WallStSmart

Fortinet Inc (FTNT)vsPaymentus Holdings, Inc. (PAY)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Fortinet Inc generates 488% more annual revenue ($7.53B vs $1.28B). FTNT leads profitability with a 28.2% profit margin vs 5.8%. FTNT trades at a lower P/E of 57.8x. FTNT earns a higher WallStSmart Score of 71/100 (B).

FTNT

Strong Buy

71

out of 100

Grade: B

Growth: 8.7Profit: 9.5Value: 5.3Quality: 5.5
Piotroski: 5/9Altman Z: 1.50

PAY

Buy

54

out of 100

Grade: C-

Growth: 10.0Profit: 6.0Value: 5.7Quality: 9.0
Piotroski: 4/9Altman Z: 6.30
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FTNTUndervalued (+40.9%)

Margin of Safety

+40.9%

Fair Value

$277.92

Current Price

$159.64

$118.28 discount

UndervaluedFair: $277.92Overvalued
PAYUndervalued (+39.0%)

Margin of Safety

+39.0%

Fair Value

$40.18

Current Price

$38.57

$1.61 discount

UndervaluedFair: $40.18Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FTNT6 strengths · Avg: 9.0/10
Return on EquityProfitability
197.5%10/10

Every $100 of equity generates 197 in profit

Operating MarginProfitability
33.6%10/10

Strong operational efficiency at 33.6%

Market CapQuality
$123.48B9/10

Large-cap with strong market position

Profit MarginProfitability
28.2%9/10

Keeps 28 of every $100 in revenue as profit

Revenue GrowthGrowth
25.6%8/10

Revenue surging 25.6% year-over-year

EPS GrowthGrowth
43.9%8/10

Earnings expanding 43.9% YoY

PAY4 strengths · Avg: 9.5/10
Revenue GrowthGrowth
30.2%10/10

Revenue surging 30.2% year-over-year

Debt/EquityHealth
0.0110/10

Conservative balance sheet, low leverage

Altman Z-ScoreHealth
6.3010/10

Safe zone — low bankruptcy risk

EPS GrowthGrowth
45.5%8/10

Earnings expanding 45.5% YoY

Areas to Watch

FTNT4 concerns · Avg: 3.0/10
PEG RatioValuation
2.244/10

Expensive relative to growth rate

Altman Z-ScoreHealth
1.504/10

Distress zone — elevated risk

P/E RatioValuation
57.8x2/10

Premium valuation, high expectations priced in

Price/BookValuation
75.7x2/10

Trading at 75.7x book value

PAY3 concerns · Avg: 3.0/10
Price/BookValuation
8.3x4/10

Trading at 8.3x book value

Profit MarginProfitability
5.8%3/10

5.8% margin — thin

P/E RatioValuation
59.8x2/10

Premium valuation, high expectations priced in

Comparative Analysis Report

WallStSmart Research

Bull Case : FTNT

The strongest argument for FTNT centers on Return on Equity, Operating Margin, Market Cap. Profitability is solid with margins at 28.2% and operating margin at 33.6%. Revenue growth of 25.6% demonstrates continued momentum.

Bull Case : PAY

The strongest argument for PAY centers on Revenue Growth, Debt/Equity, Altman Z-Score. Revenue growth of 30.2% demonstrates continued momentum.

Bear Case : FTNT

The primary concerns for FTNT are PEG Ratio, Altman Z-Score, P/E Ratio. A P/E of 57.8x leaves little room for execution misses.

Bear Case : PAY

The primary concerns for PAY are Price/Book, Profit Margin, P/E Ratio. A P/E of 59.8x leaves little room for execution misses.

Key Dynamics to Monitor

FTNT profiles as a growth stock while PAY is a hypergrowth play — different risk/reward profiles.

PAY carries more volatility with a beta of 1.30 — expect wider price swings.

PAY is growing revenue faster at 30.2% — sustainability is the question.

FTNT generates stronger free cash flow (1.0B), providing more financial flexibility.

Bottom Line

FTNT scores higher overall (71/100 vs 54/100), backed by strong 28.2% margins and 25.6% revenue growth. PAY offers better value entry with a 39.0% margin of safety. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Fortinet Inc

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

Fortinet (Nasdaq: FTNT) is an American multinational corporation headquartered in Sunnyvale, California. It develops and sells cybersecurity solutions, including but not limited to physical products such as firewalls, plus software and services such as anti-virus protection, intrusion prevention systems and endpoint security components.

Paymentus Holdings, Inc.

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

Paymentus Holdings, Inc. provides electronic bill submission and payment services. The company is headquartered in Redmond, Washington with additional offices in the United States, Canada, and India.

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